Oil - US Crude IG Client Sentiment: Our data shows traders are now at their least net-long Oil - US Crude since Jan 06 when Oil - US Crude traded near 5,008.80.
Number of traders net-short has increased by 13.81% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Oil - US Crude: Retail trader data shows 31.65% of traders are net-long with the ratio of traders short to long at 2.16 to 1. Our data shows traders are now at their least net-long Oil - US Crude since Jan 06 when Oil - US Crude traded near 5,008.80. The number of traders net-long is 34.82% lower than yesterday and 22.35% lower from last week, while the number of traders net-short is 30.46% higher than yesterday and 13.81% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil - US Crude prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil - US Crude-bullish contrarian trading bias.
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